https://www.taxtmi.com/caselaws?id=419520 The Tribunal rejected the application for Corporate Insolvency Resolution Process (CIRP) initiation under Section 9 of IBC 2016. It found the Operational Creditor's evidence insufficient to establish the debt's validity, noting lack of acknowledgment on invoices, absence of signed licenses, and unverified ledger accounts. The Tribunal emphasized the absence of a tripartite agreement, indicating a lack of substantial proof of engagement. Consequently, the CIRP application was dismissed without costs, allowing the Operational Creditor to pursue the matter in other forums. en-us Fri, 04 Mar 2022 00:00:00 +0530 Mon, 14 Mar 2022 07:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419520 The Tribunal rejected the application for Corporate Insolvency Resolution Process (CIRP) initiation under Section 9 of IBC 2016. It found the Operational Creditor's evidence insufficient to establish the debt's validity, noting lack of acknowledgment on invoices, absence of signed licenses, and unverified ledger accounts. The Tribunal emphasized the absence of a tripartite agreement, indicating a lack of substantial proof of engagement. Consequently, the CIRP application was dismissed without costs, allowing the Operational Creditor to pursue the matter in other forums. Case-Laws Insolvency and Bankruptcy Fri, 04 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419520